Which of the following is the PRIMARY purpose of a Comparative Market Analysis (CMA)?

The primary purpose of a Comparative Market Analysis (CMA) is to assess property value for pricing. A CMA involves analyzing recent sales of similar properties within a particular area to determine a home’s current market value. It takes into account various factors such as location, size, condition, and market trends. This analysis helps sellers set a competitive price when listing their property and assists buyers in understanding the fair market value of homes they are interested in.

While drawing up seller agreements, promoting buyer representation, and creating marketing strategies are important aspects of real estate transactions, they are not the main focus of a CMA. The CMA is fundamentally about providing a well-researched and objective evaluation of property values, which lays the groundwork for effective pricing strategies in sales transactions.